I am Rahul and here to share my experience with reliance life insurance plans. I never thought this could happen with a prestigious company like “Reliance Life Insurance Company Ltd.”.
One bad day I got a call from some call center regarding “Reliance life insurance” plan. I misfortunately agreed and their so called executive came at my place to describe the plan details. They have printed fake document (which I realized later) of other customer to show the benefit of the plan. They also offered some gift depending on the premium amount. I believed because I had experience with life insurance corporation India, where the agent offered some discount on the premium amount, which I received later. Here the agents offered me a LCD television as my premium was handsome amount. They had other options like holiday package, camera etc.
Anyway that’s the other story leave it for a while as I have a LCD television where I can enjoy tv programs. I applied for “Reliance Cash Flow” plan. The policy term I mentioned was 7 years. And agent also told me that it has a “Mediclaim” and I’ll get the mediclaim paper after 15 days of receiving the bond paper of insurance. Why I am mentioning this is for your caution. Here is the key plan they have in mind. One more twist in the story, that they have full plan in mind because no one can help you out from the situation even Reliance. What they do is to mention the home address for sending the bond insurance paper so that you will receive the paper with delay of 7-10 days. Thanks to internet, I checked my plan details through reliance website. There I got to know that my plan is different what I applied for. I filled the application for “Reliance Cash Flow” but now plan showing “Reliance Money Multiplier”. I contacted the agent about 50 times to know why this happened. But most of the time their mobile switched off. Any how they assure me that my will plan will change within a week. After that a new policy paper for “Reliance Cash Flow” has reached to my home address. And then it dispatched to delhi via courier by my family. And I get the paper after 10 days. In between I called the agents for my “Mediclaim” paper than they say it’ll be deliver in 2 days …and again after 2 day they convince me that I’ll get my paper 2 days and this way I got late(For this I made almost 100+ phone calls as they always switched off their mobile). Then I enquired this to reliance customer care and found that there is no “Mediclaim” is associated with this policy.
There is one more thing to be happened; when I receive the “Reliance Cash Flow” bond paper I found that the signature on all the paper was not mine. They are managed by agents, and interestingly I got a paper where Reliance Life Insurance, janakpuri branch office has verified my fake signature. And also the “Policy Term” mentioned in the document was 22 years.
At that point of time I fully understand all the game plan the agents had because the lookup period for the policy was over now. I rushed to Reliance life insurance branch office located in janakpuri district where my policy paper was processed. Firstly they refused to take my application for cancellation of policy but after that they accept the cancellation form. Previously I was thinking that all the fault are from the agents and agency through which I taken the policy but I was wrong “Reliance Life Insurance Company Ltd” has also same sort of principles and believes that their agency and agent have in the market. They refused the application for cancellation of my policy on the ground of lookup period of 15 days was over that point of time. You can imagine what I want to say here. Reliance life insurance company and their agents have same principal and path to fool the customer. I contacted customer care, after 15 days because they said it takes 15 days for cancellation, the executive said, they had send me the rejection of the application by post after 2 days of receiving but I havn’t get that till date. He also said he cannot help in this situation and I again go to reliance branch office at janakpuri to again submit the application for cancellation. Reliance insurance company wants me to go through this loop to go to reliance branch office submit a application  call the customer care they will again say got to reliance branch office…….and so…. What the joke is this you can imagine. You can imagine what a frustrating situation is this? My money is in the reliance account and agents must be got their commission for the policy, they must be feeling proud and happy to fool their customer. They must be looking for other people to trap in their game. I am here to aware you people just be cautious and don’t go for any “Reliance Life Insurance” policy. I will never take this I swear.
I just wanted my money back and reliance had refused to pay that. What sort of business they are doing I don’t understand. A person like me works hard to earn some money and a company like reliance has agents and agencies in the market to trap and get that money. So this is the actual game plan of “Reliance Money Multiplier and Cash Flow plan”.
At last I am also including the agents, agencies and their mobile number and my policy number. So that other people should know and avoid these people and of course avoid “Reliance Insurance Company Ltd.”
My Policy No : 18241924
Agent groups:
• Sumit Kumar (the person come for to collect form and cheque)
o Mob : 09582865013
o ID NO: 015145(I know this may be fake)
• Raj Kumar Khurana (He said he is boss of sumit, I know they all had give wrong information)
o Mob: 0999071129
• Jagdeep(Who is an employee of Reliance life insurance branch office, Janakpuri, new delhi. He is the man between the branch office and agency)
Agency Name :
• SHM PVT . LTD., Najafgadh, New Delhi (Beware of this agency, they can trap you. Always ask the agent to give the agency name and verify for this agency)
• ADVISOR CODE: 21192540
• ADVISOR NAME : .Reliance Life Insurance Tpd